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ashapura intimates fashion limited
Our Company was incorporated as Ashapura Apparels Private Limited on
July 17,2006 at Mumbai as a private limited company under the Companies Act, 1956.
Pursuant to a special resolution passed by the shareholders at an extra-ordinary general
meeting held on October 18,2012, the name of our Company was changed to Ashapura Intimates
Fashion Private Limited and a certificate of change of name was issued by Registrar of
Companies, Mumbai, Maharashtra on November 9,2012. Further, pursuant to a special
resolution passed by our shareholders at an extra-ordinary general meeting held on
December 1,2012 our Company was converted into a public limited company and the word
"private" was deleted from its name. Consequently, the name of our Company was
changed to Ashapura Intimates Fashion Limited and a certificate of change of name was
issued by Registrar of Companies, Mumbai, Maharashtra on December 19,2012. For details of
changes in our constitution, name and registered office, please see the chapter titled
"History and Certain Corporate Matters" on page no. 110 of the Prospectus.
Registered Office: Unit No. 3-4, Ground Floor, Pacific Plaza, Plot No.
570, TPS IV, Off Bhawani Shankar Road,
Mahim Divison, Dadar (West), Mumbai - 400 028, Maharashtra, India;
Tel: +9122 24331552/3, Fax: +9122 24331552/3.
Company Secretary and Compliance Officer: Ms. Sonali K. Gaikwad;
Website: www.valentineloungeweargroup.com;
E-Mail: ipo@valentineloungeweargroup.com
PROMOTER OF THE COMPANY: MR. HARSHAD H. THAKKAR
PUBLIC ISSUE OF 52,50,000 EQUITY SHARES OF RS.10 EACH OF ASHAPURA INTIMATES
FASHION LIMITED ("OUR COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF
RS.40 PER EQUITY SHARE (INCLUDING A SECURITIES PREMIUM OF RS.30 PER EQUITY SHARE)
AGGREGATING TO RS.2,100 LACS (THE "ISSUE"), OF WHICH, 2,64,000 EQUITY SHARES OF
RS.10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (AS DEFINED IN
THE CHAPTER TITLED "DEFINITIONS AND ABBREVIATIONS") (THE "MARKET MAKER
RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE
OF 49,86,000 EQUITY SHARES OF RS.10 EACH IS HEREINAFTER REFERED TO AS THE "NET
ISSUE"THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.97% AND 25.61% RESPECTIVELY OF
THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. THIS BEING A FIXED PRICE
ISSUE, AS PER SUB-REGULATION (4) OF REGULATION 43 OF THE SEBI (ICDR) REGULATIONS, 2009 AS
AMENDED FROM TIME TO TIME ("SEBI (ICDR) REGULATIONS"), OUT OF THE NET ISSUE OF
49,86,000 EQUITY SHARES, MINIMUM 50% OF THE NET ISSUE BEING 24,93,000 SHALL BE AVAILABLE
FOR ALLOTMENTTO RETAIL INDIVIDUAL INVESTORS AND THE REMAINING 50% TO OTHER APPLICANTS
IRRESPECTIVE OF THE NUMBER OF EQUITY SHARES APPLIED FOR. IF THE RETAIL INDIVIDUAL INVESTOR
CATEGORY IS ENTITLED TO MORE THAN 50% ON PROPORTIONATE BASIS, THEY SHALL BE ALLOTTED THAT
HIGHER PERCENTAGE. THE MINIMUM APPLICATION SIZE IS RS.1,20,000.
THE ISSUE IS BEING MADE IN TERMS OF CHAPTER XB OF THE SEBI (ICDR) REGULATIONS
("SME ISSUE").
This being a Fixed Price Issue and in terms of Prospectus dated March 18, 2013 and as per
Regulation 43(4) of SEBI (ICDR) Regulations wherein a minimum of 50% of the Net Offer to
Public shall be made available to Retail Individual Investors. The balance of Net Offer to
Public shall be made available for allotment to a) individual applicants other than retail
investors and b) other investors including corporate bodies/ institutions irrespective of
no.of shares applied for. The unsubscribed portion of the Net Offer to Public to any one
of the categories specified in (a) or (b) shall / may be made available for allocation in
any other category, if so required. Explanation: for the purpose of Regulation 43(4) of
SEBI (ICDR) Regulations, if the retail individual investor is entitled to more than fitly
percent, on proportionate basis, the retail individual investors shall be allocated that
higher percentage.
THE FACE VALUE OF EQUITY SHARES IS RS.10. THE ISSUE PRICE IS RS.40. THE ISSUE
PRICE IS 4 TIMES OF THE FACE VALUE. MINIMUM APPLICATION SIZE OF 3,000 EQUITY SHARES AND IN
MULTIPLES OF 3,000 EQUITY SHARES THEREAFTER
The Equity Shares offered through the Prospectus are proposed to be listed on the SME
Platform of BSE Limited. In terms of Chapter XB of SEBI (ICDR) Regulations, we are not
required to obtain any in principle listing approval for the Equity Shares being offered
in this Issue. However, our Company has received an approval letter dated March 13,2013
from BSE Limited for using its name in the Prospectus for listing our shares on the SME
Platform of the BSE. For the purpose of this Issue, the Designated Stock Exchange will be
the BSE Limited.
All applicants were allowed to participate in the Issue through APPLICATION
SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details
of the respective bank accounts in which the corresponding application amounts were
blocked by Self Certified Syndicated Banks (the "SCSBs").
SUBSCRIPTION DETAILS
The issue has received 384 applications for 66,51,000 Equity Shares (excluding
application from Market Maker for 2,64,000 Equity Shares) resulting 1.3339 times
subscription before considering the technical rejection cases. After considering the
technical rejection cases of 6 applications of 45,000 Equity Shares, the Issue was
subscribed 1.3249 times.
The details of the applications received in the Issue (before technical rejections) are as
follows:
Detail of the Applications Received (Before Technical
Rejections & withdrawal of applications):
| CATEGORY |
NUMBER OF
APPLICATIONS |
NUMBER OF
EQUITY SHARES |
SUBSCRIPTION |
| Market Makers |
1 |
2,64,000 |
1.0000 |
| Non-Institutional Investors |
96 |
57,87,000 |
2.3213 |
| Retail Individual Investors |
288 |
8,64,000 |
0.3466 |
| TOTAL |
385 |
69,15,000 |
1.3171 |
Detail of the Applications Received (After Technical Rejections
& withdrawal):
| CATEGORY |
NUMBER OF
APPLICATIONS |
NUMBER OF
EQUITY SHARES |
SUBSCRIPTION |
| Market Makers |
1 |
2,64,000 |
1.0000 |
| Non-Institutional Investors |
93 |
57,51,000 |
2.3069 |
| Retail Individual Investors |
285 |
8,55,000 |
0.3430 |
| TOTAL |
379 |
68,70,000 |
1.3086 |
The Basis of Allotment was finalized in consultation with the
Designated Stock Exchange - BSE Limited on April 10,2013.
A. Allocation to Market Makers (After Technical Rejections & Withdrawal): The
Basis of Allotment to the Market Makers, at the issue price of Rs.40.00 per Equity
Share, was finalized in consultation with BSE. The category was subscribed by 1.0000
times. The total number of shares allotted in this category is 2,64,000 Equity Shares in
full out of reserved portion of 2,64,000 Equity Shares.
| No. of shares applied for (Category wise) |
No. of Applications received |
% to total |
Total No. Of Equity Shares applied |
% to total |
Proportionate Shares Available |
Allocation
per applicant
(Before Rounding Off) |
Allocation
per applicant
(After Rounding Off) |
Ratio of Allotees to the Applicants |
Total No. of Equity shares allotted |
Surplus/ Deficit |
| 2,64,000 |
1 |
100.00 |
2,64,000 |
100.00 |
2,64,000 |
2,64,000 |
2,64,000 |
1 |
2,64,000 |
0.00 |
| TOTAL |
1 |
100.00 |
2,64,000 |
100.00 |
2,64,000 |
|
|
|
2,64,000 |
0.00 |
B. Allocation to Retail Individual Investors (After
Technical Rejections & Withdrawal): The Basis of Allotment to the Retail
Individual Investors, at the issue price of Rs.40.00 per Equity Share, was finalized
in consultation with BSE. The category was subscribed by 0.342960 times. Due to under
subscription, all the applicants in this category have been given full and firm allotment
and the under subscribed 16,38,000 shares from Retail Individual Investors Category have
been spilled over to Non-Institutional Investors Category.
| No. of shares applied for (Category wise) |
No. of Applications received |
%to total |
Total No. of Equity Shares applied |
% to total |
Proportionate Shares Available |
Allocation
per applicant
(Before Rounding Off) |
Allocation per applicant
(After Rounding Off) |
Ratio of Allotees to the Applicants |
Total No. of Equity shares allotted |
Surplus/ Deficit |
| 3,000 |
285 |
100.00 |
8,55,000 |
100.00 |
24,93,000 |
8,747.37 |
3,000 |
1 |
8,55,000 |
-16,38,000 |
| TOTAL |
285 |
100.00 |
8,55,000 |
100.00 |
24,93,000 |
|
|
|
8,55,000 |
-16,38,000 |
C. Allocation to Non-Institutional Investors (After
Technical Rejections & Withdrawal): The Basis of Allotment to the Non
Institutional Investors, at the issue price of Rs.40.00 per Equity Share, was
finalized in consultation with BSE. The category was subscribed by 1.392157 times
including spill over 16,38,000 equity shares from Retail individual Investors category.
The total number of shares allotted in this category is 41,31,000 Equity Shares to 93
successful applicants on proportionate basis. The category wise basis of allotment is as
under:
| No. of shares applied for (Category wise) |
No. of Applications |
% to total |
Total No. of Equity Shares applied |
% to total |
Proportionate Shares Available |
Allocation per applicant
(Before Rounding Off) |
Allocation per applicant
(After Rounding Off) |
Ratio of Allotees to the Applicants |
Total No. of Equity shares allotted |
Surplus/ Deficit |
| 6,000 |
11 |
11.83 |
66,000.00 |
1.15 |
47,408.00 |
4,309.82 |
3,000.00 |
1 |
33,000.00 |
-14408 |
| 9,000 |
3 |
323 |
27,000.00 |
0.47 |
19,394.00 |
6,464.67 |
6,000.00 |
1 |
18,000.00 |
-1394 |
| 12,000 |
22 |
23.66 |
2,64,000.00 |
4.59 |
1,89,634.00 |
8,619.73 |
9,000.00 |
1 |
1,98,000.00 |
8366 |
| 15,000 |
10 |
10.75 |
1,50,000.00 |
2.61 |
1,07,746.00 |
10,774.60 |
12,000.00 |
1 |
1,20,000.00 |
12254 |
| 18,000 |
1 |
1.08 |
18,000.00 |
0.31 |
12,930.00 |
12,930.00 |
12,000.00 |
1 |
12,000.00 |
-930 |
| 24,000 |
5 |
5.38 |
1,20,000.00 |
2.09 |
86,197.00 |
17,239.40 |
18,000.00 |
1 |
90,000.00 |
3803 |
| 27,000 |
4 |
4.3 |
1,08,000.00 |
1.88 |
77,577.00 |
19,394.25 |
18,000.00 |
1 |
72,000.00 |
-5577 |
| 27,000 |
|
|
|
|
|
|
3,000.00 |
3:4 |
9,000.00 |
9000 |
| 30,000 |
3 |
323 |
90,000.00 |
1.56 |
64,648.00 |
21,549.33 |
21,000.00 |
1 |
63,000.00 |
-1648 |
| 42,000 |
3 |
323 |
1,26,000.00 |
2.19 |
90,507.00 |
30,169.00 |
30,000.00 |
1 |
90,000.00 |
-507 |
| 45,000 |
1 |
1.08 |
45,000.00 |
0.78 |
32,324.00 |
32,324.00 |
33,000.00 |
1 |
33,000.00 |
676 |
| 48,000 |
1 |
1.08 |
48,000.00 |
0.83 |
34,479.00 |
34,479.00 |
33,000.00 |
1 |
33,000.00 |
-1479 |
| 51,000 |
4 |
4.3 |
2,04,000.00 |
3.55 |
1,46,535.00 |
36,633.75 |
36,000.00 |
1 |
1,44,000.00 |
-2535 |
| 60,000 |
3 |
323 |
1,80,000.00 |
3.13 |
1,29,296.00 |
43,098.67 |
42,000.00 |
1 |
1,26,000.00 |
-3296 |
| 63,000 |
3 |
323 |
1,89,000.00 |
3.29 |
1,35,761.00 |
45,253.67 |
45,000.00 |
1 |
1,35,000.00 |
-761 |
| 75,000 |
1 |
1.08 |
75,000.00 |
1.3 |
53,873.00 |
53,873.00 |
54,000.00 |
1 |
54,000.00 |
127 |
| 81,000 |
1 |
1.08 |
81,000.00 |
1.41 |
58,183.00 |
58,183.00 |
57,000.00 |
1 |
57,000.00 |
-1183 |
| 84,000 |
1 |
1.08 |
84,000.00 |
1.46 |
60,338.00 |
60,338.00 |
60,000.00 |
1 |
60,000.00 |
-338 |
| 99,000 |
1 |
1.08 |
99,000.00 |
1.72 |
71,113.00 |
71,113.00 |
72,000.00 |
1 |
72,000.00 |
887 |
| 1,05,000 |
1 |
1.08 |
1,05,000.00 |
1.83 |
75,423.00 |
75,423.00 |
75,000.00 |
1 |
75,000.00 |
-423 |
| 1,20,000 |
2 |
2.15 |
2,40,000.00 |
4.17 |
1,72,394.00 |
86,197.00 |
87,000.00 |
1 |
1,74,000.00 |
1606 |
| 1,26,000 |
1 |
1.08 |
1,26,000.00 |
2.19 |
90,507.00 |
90,507.00 |
90,000.00 |
1 |
90,000.00 |
-507 |
| 1,35,000 |
2 |
2.15 |
2,70,000.00 |
4.69 |
1,93,944.00 |
96,972.00 |
96,000.00 |
1 |
1,92,000.00 |
-1944 |
| 1,50,000 |
2 |
2.15 |
3,00,000.00 |
5.22 |
2,15,493.00 |
1,07,746.50 |
1,08,000.00 |
1 |
2,16,000.00 |
507 |
| 1,89,000 |
1 |
1.08 |
1,89,000.00 |
3.29 |
1,35,761.00 |
1,35,761.00 |
1,35,000.00 |
1 |
1,35,000.00 |
-761 |
| 2,46,000 |
1 |
1.08 |
2,46,000.00 |
4.28 |
1,76,704.00 |
1,76,704.00 |
1,77,000.00 |
1 |
1,77,000.00 |
296 |
| 2,52,000 |
1 |
1.08 |
2,52,000.00 |
4.38 |
1,81,014.00 |
1,81,014.00 |
1,80,000.00 |
1 |
1,80,000.00 |
-1014 |
| 3,00,000 |
2 |
2.15 |
6,00,000.00 |
10.43 |
4,30,986.00 |
2,15,493.00 |
2,16,000.00 |
1 |
4,32,000.00 |
1014 |
| 4,50,000 |
1 |
1.08 |
4,50,000.00 |
7.82 |
3,23,239.00 |
3,23,239.00 |
3,24,000.00 |
1 |
3,24,000.00 |
761 |
| 9,99,000 |
1 |
1.08 |
9,99,000.00 |
17.37 |
7,17,592.00 |
7,17,592.00 |
7,17,000.00 |
1 |
7,17,000.00 |
-592 |
| TOTAL |
93 |
100.00 |
57,51,000.00 |
100.00 |
41,31,000.00 |
|
|
|
41,31,000.00 |
0 |
The Board of Directors of the Company at its meeting held on April
10,2013 has taken on record the Basis of Allocation of Equity Shares approved by the
Designated Stock Exchange viz. BSE and has authorized the corporate action for the
transfer of the Equity Shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and/or notices are being dispatched to the
address of the Applicants as registered with the depositories/as filled in the application
form on or before April 15,2013. Further, the instructions to Self Certified Syndicate
Banks being processed on or prior to April 15,2013. In case the same is not received
within seven days, investors may contact at the address given below. The Equity Shares
allocated to successful applicants are being credited to their beneficiary accounts
subject to validation of the account details with the depositories concerned. The Company
is taking steps to get the Equity Shares admitted for trading on the SME Platform of BSE
Limited within twelve working days from the date of the closure of the Issue. The trading
is proposed to be commenced with effect from April 15,2013, subject to receipt of listing
and trading approvals from BSE Limited.
Investors please note:
The details of the allotment made would also be hosted on the website of the
Registrar to the Issue, Link Intime India Private Limited at www.linkintime.co.in. All future
correspondence in this regard may kindly be addressed to the Registrar to the Issue
quoting full name of the First/Sole applicants, serial number of the Application Form of
shares applied for and Bank Branch where the application had been lodged and payment
details at the address of the Registrar given below:
LINK INTIME INDIA PRIVATE LIMITED
C-13, Pannalal Silk Mills Compound, L.B.S. Marg,
Bhandup (West), Mumbai -400 078
Tel: +91 22 2596 7878; Fax: +91 22 2596 0329
Email: aifl.ipo@linkintime.co.in
Website: www.linkintime.co.in
Date : April 10,2013
Place: Mumbai |
FOR ashapura intimates fashion limited
On behalf of the Board of Directors
Sd/-
Harshad H. Thakkar
Chairman and Managing Director |
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RHP
